Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Super Group Limited (“Super Group” or the “Company”) (NYSE: SGHC) investors concerning the Company’s possible violations of the federal securities laws.
If you suffered a loss on your Super Group investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/super-group-limited/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at firstname.lastname@example.org to learn more about your rights.
On May 25, 2022, Super Group withdrew its fiscal 2022 guidance, which it had provided the prior month, stating that “[g]iven the volatility we’ve seen and known uncertainties, we’re working on a reforecast for 2022 and should be able to provide an update about our expectations when we release second quarter results in August.”
On this news, Super Group’s stock fell $1.89, or 23.3%, to close at $6.23 per share on May 25, 2022, thereby injuring investors.
Then, on August 11, 2022, Super Group announced its second quarter 2022 financial results and provided fiscal 2022 guidance, expecting revenue “between €1.15 billion and €1.28 billion” and adjusted EBITDA “between €200 million and €250 million.” The Company attributed the reduced guidance to “ongoing pressures from multiple economic and regulatory headwinds, together with some further degree of post-COVID normalization.”
On this news, Super Group’s stock fell $0.69, or 12.2%, to close at $4.97 per share on August 11, 2022, thereby injuring investors further.
Whistleblower Notice: Persons with non-public information regarding Super Group should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email email@example.com.
Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM’s lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM’s attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron’s, Investor’s Business Daily, Forbes, and Money.
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